Nov 16, 2012 6:30pm EST
permission. as diane eastabrook reports the move follows months of financial problems and labor un-rest. >> reporter: hostess brands says it decided to liquidate after a strike by members of the bakery, confectionery, tobacco workers, and grain millers international union crippled production at several plants. the workers walked off their jobs a week ago protesting pay cuts and benefit concessions the company demanded in order to exit bankruptcy reorganization. >> it's a shock for a lot of us. we are actually people who want to work, but we are tired of this company's way of constantly lying to us. >> reporter: hostess had already reached a deal with the teamsters union. the irving, texas company filed for chapter eleven in january-- the second time in less than three years. hostess operates nearly 1,200 bakeries, distribution centers, and outlet stores in the u.s. the 82-year old company employs about 18,000 people. many iconic hostess brands could continue to live on after the company's demise. it says it wants to sell as much of its infrastructure as possible. diane eastabrook, "n.b.
Nov 15, 2012 6:30pm EST
>> the chinese currency that is going to be accelerating the un-pegging versus the u.s. dollar, which will create more uncertainty about the dollar versus china, and therefore the value of what business companies are doing in china. >> tom: we spoke with william nobrega, managing partner at the conrad group, an emerging markets investment advisor about what the new leaders need to do. one of the things that they need to do is taking the reform and building the institution so they need a robust healthcare system and education system. therthere is a growing inequaliy between rich and poor in china and that is a grave concern for the new leadership. >> the outgoing president 'senet corruptions that you haven't heard from a chinese leader. saying "combatting corruption is a major political issue" how big of an economic issue is it. they are going to lose faith in the government and you can see some wide scale issues coming about. the question is can they tackle corruption and they have not been successful yet. $120 billion has left the country in graft. it filters through to the pr